Homework on Ethereum Intro

Ethereum 101
#863

1.web 1.0 was more static websites without too much functionality
2. etherium makes it possibly to use smart contracts to program money
3. you can see the etherium transactions on the etherium blockchain

1 Like
#864

Homework on Ethereum Intro - Questions. (Questions were updated on Dec 3 2019 )

What was Web 1.0?

  1. Web 1.0 was at a time the internet was used in a static way. This was mainly formed of images, text and sharing links but nothing to dynamic. When Java Script was introduced a new Web 2.0 was formed. These are some of the things notable that changed the internet i.e chats, social media and accounts. Java Script language allowed the internet to be more dynamic.

What is a smart contract?

  1. A smart contract is a programmable language written in solidity on the Ethereum blockchain. With a smart contract the programmable language can’t be stopped or shut down. Its a decentralised network currently still using POW. You can now program money to deiced what you want it to do. And once the Smart contract has been sent into the Eth Eco system it can execute on it own, depending on what ever action you programmed it to do. This is similar to the comparison of Web 1.0 Bitcoin to Web 2.0 Ethereum.

How is transparency achieved with ethereum code?

  1. Similar to Bitcoin POW system, Ethereum and the same properties in which, when a smart contract is confirmed into a block you can’t change got and change the smart contract with out having to change the next existing blocks that come after that. As mention before in a POW system a lot of electricity is required for hashing power from the Miners upfront before they can be rewarded the incentives from the network. With smart contracts there is transparency in being able to see what the smart contract is doing and taking the element of trust and middleman fees out of the equation.
1 Like
#865
  1. What was Web 1.0?

The internet before JavaScript. Websites were static, could not adapt to users, and pretty much only displayed text, images and links.

  1. What is a smart contract?

It is an open source, transparent program on the ethereum blockchain with “if, then” functionality. Such smart contracts can for example take the form of “virtual vending machines” (“if X coins are sent to me, send product Y to user”), escrow (“if account X is credited amount Y, send all funds in account Z to account A”) or a wide range of functions, practically performing work that normally lawyers, accountants or other fee-charging professionals do.

  1. How is transparency achieved with ethereum code?

Since all code and all entries in the ethereum blockchain are distributed, decentralized, open source and public, anybody can read and check it at any time.

2 Likes
#866

  1. What was Web 1.0?
    That is the static version of internet. Consistent of text and images and links.

  2. What is a smart contracts?
    They execute the writen code in it when a specific conditions are made.

  3. How is transparency achieved with ethereum code?
    Is Desentralased, you can see the code in the SC.

1 Like
#867
  1. static websites with only text, image or links
  2. programmable transaction protocol on the blockchain -> add set of rules
    3)Ethereum is decentralized, with proof of work and trustless (no 3th party)
1 Like
#868

  1. Web 1.0 was when we only had static websites that contained text, images and links. Websites were not dynamic and didn’t adapt to the user. Certain things weren’t possible like social media, chat and user accounts.

  2. A smart contract is a small piece of code written in Solidity which is deployed to the Ethereum blockchain that enables us to program money and assets.

  3. Transparency is achieved because the code is public, anyone can see it, inspect and validate it. Everything else is public too like the transactions that the smart contract makes just like on Bitcoin.

1 Like
#869

  1. What was Web 1.0?
    Text Images and Links only.

  2. What is a smart contract?
    Transparent code using Solidity that runs on ETH blockchain.

  3. How is transparency achieved with ethereum code?
    It’s open Tx that anyone can see.

1 Like
#870
  1. What was Web 1.0?
    Web site with static text and images.
  2. What is a smart contract?
    An open source code runs on Ethereum
  3. How is transparency achieved with ethereum code?
    All parties can verify the smart contract due to the open source nature.
1 Like
#871
  1. What was Web 1.0?

Web 1.0 was the first iteration of internet. It was static and was only able to display images, text content and links. It became dynamic when javascript was added.

  1. What is a smart contract?

A smart contract is a small program or piece of code on the Ethereum blockchain (like a function), written in Solidity, that can hold money in the form of ether and only release it when certain conditions are met. It is trustless.

  1. How is transparency achieved with ethereum code?

Transparency is achieved because the transactions are available to be viewed by anyone. You can see who is sending and receiving money. No-one can change the smart contract because it is embedded in the blockchain. Trust the math and trust the technology and how smart contracts are written. We don’t have to trust the person. Don’t trust verify.

2 Likes
#872
  1. Web 1.0 was static. You can only program text, upload images and post links.
  2. Smart contract is a program which execute itself once it reaches its objective. Example: Mr. A has 100 ETH. If he dies 50ETH will be give to his both son. (SC wont know when he dies. So to solve it. If Mr A doesnt log in his account for more than 5 years consecutively the 100 ETH will be 50:50 to his sons)
  3. Following my example from number 2. Both of Mr A sons will be able to see the SC and wont be able to argue who deserves more. Both of them cant even create a false will statement using paper. They cant alter the SC as it would be altering the blockchain which is immutable.
1 Like
#873

  1. Web 1.0 was a static way to share information on the internet such at images or links.

  2. A smart contract is an immutable code on the blockchain that allows for programmable money removing the need for a third party.

  3. Transparency is achieved on ethereum through the ability to see and verify the code.

1 Like
#874
  1. what was Web 1.0?

sinpel static website:text imagelinks
2. What is a smart contract?small pieces of code that run on the blockchain via solity language.
3. How is transparency achieved with ethereum code? its all viewed and verified on the blockchain.

1 Like
#875
  1. When you could only see text, images and links
  2. Smart contract is a code programmed on top of a blockchain, that program then decides what happens with the money.
  3. Because anyone can see it and it’s unchageble. It’s decentralized and there is no middleman
1 Like
#876
  1. Web 1.0 was kind of static internet where it was possible to read and share information (text, images, links)
  2. A smart contract is a small peace of code on the Ethereum blockchain
  3. In terms of TXs you can see exactly what’s happening, who is receiving and who is sending money
1 Like
#877
    • What was Web 1.0?
      A: Web 1.0 consisted of static, boring websites with no chat or user accounts.
    • What is a smart contract?
      A smart contract is programmable money where there is no need for middlemen, where the contract is executed trustlessly. In the case of an Ethereum smart contract it is small pieces of code that run on the Ethereum network.
    • How is transparency achieved with ethereum code?
      All transactions are visible on the Ethereum blockchain and smart contracts are as well. Similar to Bitcoin, you don’t need to trust a centralized authority, you just need to trust the code which is open source and available for all to see.
1 Like
#878
  1. The first iteration of the internet whereby content was not malleable but rather static. You only had text and images but no way of interacting on it.
  2. A smart contract allows for trustless contracts on the blockchain that are immutable and cannot be changed and are also transparent.
  3. Like on a normal blockchain, the transaction or block is transparent and cannot be changed once it has been created.
1 Like
#879

1.You could only read and share information, text, image and link.
2. Small pieces of code running on ethereum blockchain using a program language called solidity.
3 No one can change it because it is engrained into the blockchain. Don’t have to trust. Unstoppable. You can see who is sending money and receiving it.

1 Like
#880

What was Web 1.0?
Static Websites displaying static information (text, pictures).

What is a smart contract?
On chain programmed money.

How is transparency achieved with Ethereum?
All smart contracts are visible on chain and everybody can understand what they do.

1 Like
#881

  1. Web 1.0 is the first version of the web, where it was very static. You could use text, images and links.

  2. A smart contract is a programmed contract that is deployed in the blockchain.

  3. Ethereum code is open source, so everyone can read it. It is irreversible and unstoppable.

1 Like
#882
  1. Static webpge typically text, image links etc.
  2. Smart contract is programable block chain. In terms if eth it’s bitcoin but programable
  3. Via proof of stake. Like bitcoin it’s irreversable
1 Like